Preheat oven to 250° F.

Over medium heat, contine the first four ingredients; bring to a boil; boil for 5 minutes without stirring. Remove from heat; stir in baking soda and vanilla extract. Stir will. Pour over popcorn and nuts. Stir well to coat. Bake in a large roaster or pan for one hour, stirring every 15 minutes. Spread on waxed paper to dry. Store in air-tight container. Yield: 10 cups.